France is shifting its response to rising fuel costs away from short-term relief and toward long-term electrification, according to Prime Minister Sébastien Lecornu. Instead of expanding fuel subsidies after oil prices spiked due to the Iran conflict, the government plans to redirect funding into helping households and businesses transition to electric energy, according to Bloomberg. Under the plan, annual support for electrification will nearly double to €10 billion by 2030, up from €5.5 billion today. The increase will come from…

Just as oil prices on the futures market slip again on hopes for a quick end to the war in the Middle East, the head of the International Energy Agency issued a warning: prices are going to go higher yet. “Prices are already high, but they are not reflecting the severity of the problem — I agree there is a disconnect,” Fatih Birol said at an event this week, as quoted by Bloomberg. “But I think soon we will see they will converge, which is an extremely sensitive issue for the global economy.” The war has so far cost…

Anticipating that US attention could be focused on Iran and the Persian Gulf for a long time, Armenia is seeking to attract additional investors in TRIPP, the planned trade corridor that Yerevan foresees as a cornerstone of its economic future. Prime Minister Nikol Pashinyan and Foreign Minister Ararat Mirzoyan have indicated in recent days that the bilateral agreement between the US and Armenia on building TRIPP, or the Trump Route for International Peace and Prosperity, is moving forward. But both leaders now indicate that Armenia wants to attract…

Extreme volatility in crude futures prices has eased in recent days, although the market reacted with an 8% jump early Monday to the news of failed U.S.-Iran talks and the beginning of a U.S. blockade of the Strait of Hormuz.  Traders continue to react to any signal of how the worst-ever disruption energy market would unfold, but with uncertainty still very high, oil market participants bet on and try to predict movements. The worst of the volatility may have passed, as investors and speculators appear to have exhausted their capacity to respond…

Equinor is dialling back its exposure to renewables, offloading a significant stake in Scatec ASA in a move that underscores a sharper focus on capital discipline and shareholder returns amid heightened energy market volatility. In an announcement early Tuesday, Equinor said it sold 8.07% of Scatec ASA at NOK 125 per share, generating gross proceeds of approximately NOK 1.6 billion ($150 million). Following the transaction, Equinor retains an 8.05% stake and has agreed to a 90-day lock-up on its remaining shares. Scatec confirmed the transaction…

Equinor is dialling back its exposure to renewables, offloading a significant stake in Scatec ASA in a move that underscores a sharper focus on capital discipline and shareholder returns amid heightened energy market volatility. In an announcement early Tuesday, Equinor said it sold 8.07% of Scatec ASA at NOK 125 per share, generating gross proceeds of approximately NOK 1.6 billion ($150 million). Following the transaction, Equinor retains an 8.05% stake and has agreed to a 90-day lock-up on its remaining shares. Scatec confirmed the transaction…

British voters want Rachel Reeves to cut taxes and reduce energy costs in order to focus on growth, as a majority of people felt the UK economy was “poor”, new research has shown. Polling by Freshwater Strategy for the Institute of Economic Affairs (IEA), a free market think tank, suggested that the vast majority of Brits wanted the Labour government to focus on economic growth more than it currently does.  The findings back up the Labour government’s primary mission, which is to grow the UK economy.  But respondents…

China saw its lithium battery exports jump by 50% in the first quarter from a year earlier as global demand for green technologies surged amid the worst disruption to oil and gas supply due to the war in the Middle East. Exports of all green technologies manufactured in China surged in March and in the first quarter, making Chinese clean energy manufacturers winners in the war-induced oil shock. China’s exports of lithium batteries soared by 50.4% between January and March, compared to the same quarter of 2025, Wang Jun, deputy director of…

China saw its lithium battery exports jump by 50% in the first quarter from a year earlier as global demand for green technologies surged amid the worst disruption to oil and gas supply due to the war in the Middle East. Exports of all green technologies manufactured in China surged in March and in the first quarter, making Chinese clean energy manufacturers winners in the war-induced oil shock. China’s exports of lithium batteries soared by 50.4% between January and March, compared to the same quarter of 2025, Wang Jun, deputy director of…